Celular CRT SA

active

Celular CRT SA operates the band A for cellular phone services in the State of Rio Grande do Sul. It competes with Claro Digital (Telnet S.A.). The company was created as a result of the severance cellular phone operations of Compania Riograndense Telefonica S.A. (CRT) in 1999. By March 2001, the shareholders of CRT cellular were Telefonica Moviles S/A (20%) and TBS Celular (60%). TBS was integrated by Telefonica (45.09%), PorTelcom Fixa (19.59%), Banco Bilbao Viscaya (5.96%), Iberdrola (5.69%), CTC Chile (2.22%), Telefonica Argentina (.95%), and RBS (5.40%). In December 2002, the direct and indirect control of Celular CRT (50.54%) held by Portugal Telecom and Telefonica Moviles was transfered to Brasilcel, a 50/50 joint venture of Portugal Telecom and Telefonica Moviles created to manage all their mobile operations in Brazil. Since April 2003, Celular CRT and all the operating companies participating in the joint venture have been operating under the brand name "Vivo". As of December 2005, the companies opearting under the brand "Vivo" were in the process of merging. Shareholder approval was still pending. On February 22, 2006, the respective shareholders’ meetings of Telesp Celular Participações SA (TCP), Tele Centro Oeste Celular Participações SA (TCO), Tele Sudeste Celular Participações SA (TSD), Tele Leste Celular Participações, SA (TBE) and Celular CRT Participações SA (CRTPart) approved (i) the merger of TCO in order to convert it into a wholly owned subsidiary of TCP and (ii) the merger of TSD, TBE and CRT Part into TCP. As of March 26, 2006, TCP was the sole surviving company of these mergers and subsequently changed its name to “VIVO Participacoes SA", project #1470. On February 22, 2006, the respective shareholders’ meetings of Telesp Celular Participações SA (TCP), Tele Centro Oeste Celular Participações SA (TCO), Tele Sudeste Celular Participações SA (TSD), Tele Leste Celular Participações, SA (TBE) and Celular CRT Participações SA (CRTPart) approved (i) the merger of TCO in order to convert it into a wholly owned subsidiary of TCP and (ii) the merger of TSD, TBE and CRT Part into TCP. As of March 26, 2006, TCP was the sole surviving company of these mergers and subsequently changed its name to “VIVO Participacoes SA". None